Today morning, Sonata Software, currently the top gainer on the BSE, announced that it has signed a definitive agreement to acquire Australia headquartered Microsoft Dynamics 365 partner, Scalable Data Systems, in line with the strategy to be a global leader in the Microsoft Dynamics 365 business.

This acquisition is being viewed as a very positive development for Sonata as it will provide the company with additional IP, and geographical reach, along with a strong fillip to its strategy to be a global leader in the Microsoft Dynamics 365 partner ecosystem with core IPs across wide range of industries and a global footprint.

This acquisition will not require any governmental or regulatory approvals and will get completed in 1 month.

The stock price today rose over 3.5% to Rs.308.55, with volumes going up over 1.2 times.